Answer:
$16,000
Explanation:
Calculation to determine the balance in Accounts Receivable at June 30, 2022
Accounts Receivable balance $18,000
Add Credit sales $25,000
Less Accounts Receivable ($27,000)
Balance in Accounts Receivable $16,000
($18,000+$25,000-$27,000)
Therefore the balance in Accounts Receivable at June 30, 2022 is $16,000
Answer:
For year 1, present value is $9,821.43
For year 2, present value is $19,132.65
For year 3, present value is $25,624.09
Explanation:
Please refer to the attached file
Answer:
B. Cash, accounts receivable, inventories, prepaid items.
Explanation:
In the balance sheet, assets are presented in an orderly manner guided by the amount of time they take to convert into cash. Assets requiring the shortest time to convert into cash will appear first. Cash will always be on top as it does not require conversion.
Goodwill comes last as the business will have to be sold for it to turn into cash.
- In the list provided, cash will appear first.
- Accounts receivable is money a business expects to receive from customers for goods or services provided. In practice, the money should be received within 60 days
- Inventories in assets refer to finished goods in the store. They are awaiting sales. Inventories will take longer as stocks have to be sold and become account receivable before converting to cash.
- Prepaid items are expenses paid before their due date. They appear in the balance sheet as cash assets because they have not been consumed. The expectation is that they will be utilized within the current year. Converting into cash them will require getting a refund from the recipient of the funds, which could be a lengthy process.
My best guess is "intranet" (NOT "internet").
Answer:
Contact the IRS to see if there is a payment plan that works for you.
Explanation:
In a situation where someone determines that they cannot pay the tax liability, it is advisable to still file the tax return by the stipulated deadline. Additionally, contact the Internal Revenue Services(IRS) and explain your situation; they most likely have other payment plans that would work for you. Ignoring the tax bill and hoping that IRS will overlook it can lead to penalty; this might be very costly.
